search query: @author Davis, D. / total: 18
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| Author: | Davis, D. Holt, C. |
| Title: | Price rigidities and institutional variations in markets with posted prices |
| Journal: | Economic Theory
1997 : VOL. 9:1, p. 63-80 |
| Index terms: | ECONOMIC THEORY ECONOMICS PRICES |
| Language: | eng |
| Abstract: | Standard laboratory posted-offer markets respond slowly and incompletely to demand shocks. In these one-sided markets, where sellers control the setting of prices, very little information is transmitted via the process of exchange. Foe this reason, traders have trouble distinguishing randomness in their own experience from changes in market fundamentals. This paper reports the results of twelve laboratory markets conducted to assess whether some common variants to standard posted-offer rules can correct the adjustment deficiencies. |
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